According to The Sun, BBC director of vision Jana Bennett will confirm the updated series later today.
The original aired between 1978 and 1990 and starred Christopher Timothy, Robert Hardy and Peter Davison. Following the adventures of Yorkshire vet James Herriot, the programme regularly pulled in audiences of over 10 million.
It will apparently be brought back for a three-part series, which will be based before the original and titled Young James.
"Young James is inspired by the true story of how the world's most famous vet, James Herriot, came to learn his trade in Scotland," said a source.
The newspaper claims that the BBC is hoping to capitalise on ITV's cancellation of dramas such as Heartbeat with the new show.